Choosing a stock brokerage firm to start your Free Demat Account can put you in a bind. You can also select 5Paisa and its 5Paisa Demat Account and 5Paisa Trading Account services to erase your worries.
Therefore, here’s a rundown of all the services, their benefits, the account opening process, and a starting point for a quick comparison of the high-quality services available.
What Is 5 paisa?
5paisa is a financial services company focused on “discount broking” services that offer financial products through an online technology platform and also mobile application and allowing us to trade in the BSE and NSE’s capital market and currency derivatives divisions.
5paisa is a CDSL depository participant and a BSE and NSE trading cum clearing member that allow it to distribute mutual funds and also IPO products. It is also registered as a research analyst.
Read our 10 Best Free Demat Account
Types of Accounts at 5paisa
Demat Account: This can be used as an all-in-one trading account for equities, bonds, futures, currencies, and also for other dematerialized assets, or just as a Demat account.
Account for Mutual Funds: This account is only for mutual funds. This means that you can trade equities and other markets with this account, but it also gives you access to all types of mutual funds, independent of their NAV value.
Plans
5paisa Brokerage Plan – Basic Plan
| Segment | Value |
|---|---|
| Plan Name | Basic Plan |
| Monthly Plan | NA |
| Equity Delivery | Flat Fee Rs 20 |
| Equity Intraday | Flat Fee Rs 20 |
| Equity Futures | Flat Fee Rs 20 |
| Equity Options | Flat Fee Rs 20 |
| Currency Futures | Flat Fee Rs 20 |
| Currency Options | Flat Fee Rs 20 |
| Commodity | Flat Fee Rs 20 |
5paisa Brokerage Plan – Power Investor Pack
| Segment | Value |
|---|---|
| Plan Name | Power Investor Pack |
| Monthly Plan | Rs 499 |
| Equity Delivery | Rs 10 per order |
| Equity Intraday | Rs 10 Per order |
| Equity Futures | Rs 10 Per order |
| Equity Options | Rs 10 Per order |
| Currency Futures | Rs 10 Per order |
| Currency Options | Rs 10 Per order |
| Commodity | Rs 10 Per order |
ACCOUNT OPENING CHARGES:
| Demat services | Charges |
|---|---|
| Depository Source | CDSL |
| Account Opening Charges | Rs.650 |
| Demat AMC Charges | Rs.400 per Annum |
| Trading AMC Charges | Free |
| Margin Money | Zero |
| Offline to Online | No |
BROKERAGE CHARGES:
| Brokerage | Charges |
|---|---|
| Equity Delivery Trading | Rs.10 |
| Equity Intraday Trading | Rs.10 |
| Commodity Options Trading | NA |
| Equity Futures Trading | Rs.10 |
| Equity Options Trading | Rs.10 per Lot |
| Currency Futures Trading | Rs.10 |
| Currency Options Trading | Rs.10 per Lot |
| Minimum Brokerage | Rs.10 |
How do I open a demat account with 5paisa?
To open a 5Paisa Demat account, follow the steps outlined below:
- You must look for a yellow button labeled “Open Demat Account” towards the bottom of the page. In order to open a form, press the button.
- Click the button, a pop-up form with specific questions will display on your screen. Moreover, you must provide accurate and true information.
- You will be taken to the KYC process after submitting the form. Here, you must give the requested documentation. The PAN card, Aadhaar number, bank account data (a canceled check), and also a photograph are the most common documents requested.
- Keep in mind that the documents must be uploaded in scanned copy format, so keep them on hand if you want to speed up the procedure.
- The company officials will then call you to double-check all of the information you supplied and validate the documents.
- Your account will be opened after successful verification, and you will receive the login credentials for the same in your registered email address.
Platforms for 5Paisa Trading
Spaisa App for Mobile:
Moreover, this smartphone application allows you to trade on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Investors and dealers can also download offers for trading on the BSE and NSE.
Customers can also download 5Paisa’s mobile trading application for free from the Google App Store and the Apple Store.
Moreover, this program makes stock market trading, currency futures and options, and mutual fund investing simple.
5paisa Web Trading
www.5paisa.com. This website can also be accessed by the investor/trader from any computer, online browser, laptop, or tablet.
5 paisa’s website also brings together all of your trading and investment opportunities in one spot. Moreover, the proper connection and payment gateway ensure a seamless and speedy financial transfer.
5paisa Trade Terminal
The 5Paisa is also a trading terminal ranked third on the list. This is specifically designed for traders that execute transactions on a regular basis and demand technology-enabled trading tools.
This desktop application offers real-time stock prices, complex intraday charting, and historical stock prices.
Moreover, the numerous keyword shortcuts available track real-time market conditions and prove helpful in placing orders in the shortest time feasible.
Pros & Cons
Pros
- It is one of India’s cheapest stockbrokers, with commissions starting at Rs 10 per executed order.
- Moreover, provide trading services in equity and derivatives, futures and options (F&O), and currency.
- As a benefit of its parent firm, IIFL, it also provides above-average customer service.
- Although it is a bargain broker, it also delivers service comparable to that of a full-service broker.
- Robo Advisory tool for customizing mutual fund investment portfolios.
- All services, including stock and derivatives trading, IPOs, mutual funds, and also insurance, are available through a single mobile app.
- Customers can get free technical, derivative, and also basic research and assistance for a fee.
- The platform is free to use and includes a mobile app, a website, and also a PC trading terminal. There are no software fees.
Cons
- Trading programs are also not available on a monthly or yearly basis.
- Moreover, it does not have the ability to trade commodities.
- However, there are no physical locations in India where the company may be found, no branches.
What makes it better than Others?
- IIFL is a also leading non-banking financial institution (NBFI) in India, with over 20 years of experience.
- It also provides three subscription plans to choose from, depending on your trading demands.
- Moreover, free technical, derivatives, and fundamental research are available.
- For fee, clients can also receive advice.
Conclusion
5paisa is a wonderful platform for beginner traders because it has a simple interface and all of the features in one place. Before making a genuine investment, you can also practice F&O on a virtual platform.
However, if you’re a professional, you can save money on high-volume trades by taking advantage of flat trade fees.
If you like 5paisa DEMAT ACCOUNT, you should also give a try to Axis Bank Demat Account and HDFC Demat Account.
FAQs
Is it possible to invest in an IPO through 5Paisa?
Yes, 5Paisa allows you to invest in IPOs in addition to a variety of other asset types. Moreover, they have a well-designed structure for filling out forms to apply for an IPO. You can go to their website and decide whether or not to invest in an IPO, but first, read the terms and conditions.
Is 5paisa a safe and trustworthy stockbroker?
5paisa is a secure, dependable, and trustworthy company. Moreover, all of your investments are secure, and trades may be completed with confidence. SEBI is the regulatory authority in India that oversees all stockbroker activity.
Is there a brokerage discount on 5paisa?
As a discount broker in India, they provide their consumers with a significant and worthwhile reduction on brokerage options.
Do the clients of 5paisa have access to happy hour trading?
5Paisa does not include any offers such as Happy Hour Trading.
Amit Gupta is the creator of FreeDematAccount.in, a website that specializes in Demat accounts and provides assistance to all its users in navigating through complicated decisions. After completing his high school certification, Amit spent half a decade learning about Demat accounts from brokerages. Before forming FreeDematAccount.in, Amit worked for a Demat account brokerage.